Thread Rating:
  • 1 Vote(s) - 4 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Why do we only discuss expenses when reducing credit card debt?
#11
I see that right. why just say cut back on expenses. When it'll be much better if you cut expenses then focus on getting more income. It will surely give a nice result. More money for you to save.
Reply
#12
(01-11-2018, 10:25 PM)Michael Puttman Wrote: Whenever I read articles about paying down credit card debt, or any kind of debt really, the author always focuses on rearranging how they spend the money they have. They say things like "make a budget", or "limit your spending". But they never seem to discuss the other side of the equation and that is making more money. How about picking up odd jobs, or be an Uber driver for a few hours a night. I think doing both - reducing expenses and increasing income is the real solution to money problems.

Yeah! I'm relly unto your point of view man! That's we call thinking outside of the box! That's true that many of the people just thinking how to lessen the use of their cards or to make a budget, they didn't see the bigger picture which is to start a business even a small one. They can lessen their expenses, they can save money and they can pay their debt. Just like hitting two birds in one stone.
Reply
#13
Precisely! Doing those two in combination will surely give you faster result as well. It's like Diet and exercise Smile There are a lot of ways to earn extra income. Why not take advantage of those opportunities on your spare time? You can also sell some of your things that isn't much needed or just accumulating dust on your pad, maybe they are useful to others. That way, you earn extra money and you declutter your space as well! Smile
Reply
#14
(01-13-2018, 09:26 PM)chikatilo Wrote:
(01-13-2018, 10:10 AM)aecel Wrote:
(01-13-2018, 06:54 AM)chikatilo Wrote: I couldn't agree more. It's always wiser to try to figure out how to increase your income and be ambitious about it. Looking for a better paid job is one option. One can develop new skills by taking an educational course, for example. Looking for a part time second job is another great option, as long as you have the energy and can manage your time well. 

You are asking a thoughtful question though. They always advise people to cut their expenses in these articles. Why? Maybe because most people are too lazy and tired to push themselves beyond their limits? Just maybe...  Smile

Laziness is not only the factors. It depends on the country if they can still accommodate having additional jobs. Here in the Philippines mostly they don't have time to add more jobs because they usually spend their time working the whole day plus long hours of commuting. They will spend their time in the office roughly 8 - 10 hours(plus overtime) plus 2-3 hours of traveling to work then 3-4hrs getting off the office it's so super traffic here that you need to travel early in the morning just to avoid the traffic and sometimes trains are usually not running because of mechanical problems. The transportation is a serious problem here and yet no solution so far. Even if they want to have additional jobs they can't do that because they are too tired already. They will arrive home just to eat, little chat with their families and a small amount of sleep.


I hear you, my friend. That's why I said "maybe people are lazy and tired...".

Commuting is becoming a huge problem everywhere these days. Road traffic is increasing, as more and more people are able to buy cars. The whole process of being stuck in traffic takes it's toll on your nervous system and mood. I myself become cranky and tired when I have to drive for an hour in a big city.

Another factor is the heavily polluted environment in which we live.  30-40 years ago it wasn't like that, the air was much cleaner. I am under the impression that in the past people were healthier and more energetic regardless of the fact that people live longer nowadays. We live longer, but we're sicker and more tired... Maybe some would disagree on this matter, but that's a personal opinion based on my observations in my home country.

Yet I know people for whom commuting is not a problem, they work one day, after that they're off for two days, they always complain about not having enough money and yet they don't bother finding a second job.... That's what I call lazy.

I think the solution for avoiding the traffic is to rent a place near your work and I've seen lots of condo units in the city but it's too expensive to buy so I guess the upper class can afford to have one. Our environment today is very stressful lots of pollution that's why the lifespan of a person is very short we're lucky to reach 50's all we need to do to is maintain healthy living like avoid vices, exercise, eating healthy food so you could fight the pollutions around you. 

I know in some countries you could have multiple jobs but here you're not allowed to have multiple jobs unless you're a freelancer. Some companies are very strict especially when you're working in the corporate world you can't work in companies' competitors they will fire you right away and it will require you to work fulltime 8hrs a day so it's impossible to have two jobs at the same time. You could also find a part-time job in the food chain or other establishments but they're not gonna hire you because they will prioritize students and they won't accept those who have jobs already. The only choice here is to have another sideline like having your own small businesses or work online.
Reply
#15
Because too much expenses is the reason why people have credit card debts. To avoid credit card debt is to avoid using your credit card for unnecessary things. Be responsible enough in using your credit card so that you won't end up having debt crisis. People should understand that owning a credit is a once in a life time privilege which you cannot use unwisely.
Reply
#16
(01-18-2018, 07:59 AM)kaisantos2229 Wrote: Because too much expenses is the reason why people have credit card debts. To avoid credit card debt is to avoid using your credit card for unnecessary things. Be responsible enough in using your credit card so that you won't end up having debt crisis. People should understand that owning a credit is a once in a life time privilege which you cannot use unwisely.

That isn't always true. Sometimes you need to use them for emergencies (medical bills, family emergency, funeral expense, whatever it is) or just unavoidable costs that you can't afford right then. If you lose your job and are waiting on government support, a credit card is an easy way to pay your bills in the meantime and avoid being kicked out of your house. Not to mention people need to eat! Don't assume people are only getting into debt because of unnecessary expenditure.
Reply
#17
Michael PuttmanWhenever I read articles about paying down credit card debt, or any kind of debt really, the author always focuses on rearranging how they spend the money they have. They say things like "make a budget", or "limit your spending". But they never seem to discuss the other side of the equation and that is making more money. How about picking up odd jobs, or be an Uber driver for a few hours a night. I think doing both - reducing expenses and increasing income is the real solution to money problems.

Your point is good but the problem is you will not change the fact that you will still overspend more money. When you overspend by using your credit card it means larger credit card debt and that is not practical specially when you are not rich. My suggestion? Save your money, there is more important way to use your money than using your money to overspending.
Reply
#18
I have always envy people with talents. They can always have a regular job like a normal people talentless and a part time using their talents and make some extra income. So if you have debt and having a trouble paying them, go discover something useful to yourself maybe you have a talent in singing or anything... earn from it! It will be a great help.
Reply
#19
That makes sense. I personally don't like settling for less and stopping myself from getting things that I like. Why settle for less if we can definitely do something to get whate want. We should work harder or do something to improve our lives and live our lives to the fullest.
Reply
#20
(01-11-2018, 10:25 PM)Michael Puttman Wrote: Whenever I read articles about paying down credit card debt, or any kind of debt really, the author always focuses on rearranging how they spend the money they have. They say things like "make a budget", or "limit your spending". But they never seem to discuss the other side of the equation and that is making more money. How about picking up odd jobs, or be an Uber driver for a few hours a night. I think doing both - reducing expenses and increasing income is the real solution to money problems.

I call it taking up responsibility, it's only this way that the card owner can live above debts and worry less about drowning in them. Picking up a few odd jobs is certainly going to be effective in making more money and solve the debt problem. Once there is more inflow of fund, getting into credit card debt is going to be the least of the worries of the card owner.
Reply


Forum Jump:


Users browsing this thread: 2 Guest(s)